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Mrkoon is experiencing rapid growth with a 15% month-over-month revenue increase, attracting further investment from A Ventures, which has doubled its stake due to the startup's 20-fold expansion and strong market potential. As Mrkoon prepares to enter the GCC market, focusing on Saudi Arabia and the UAE, it aims to capitalize on the $150 billion scrap and surplus materials market, enhancing its technology and operations with A Ventures' support. In other developments, Saudi-based Ninja is in talks to secure over $1 billion in funding, aiming for an IPO by 2027, while Foras has acquired a 36% stake in Beban Crowdfunding to boost startup funding in the MENA region.
Qatar has launched the Startup Business Development Grant to enhance research, development, and innovation within early-stage startups and SMEs, aiming to reduce investment risks and expedite commercialization. This initiative aligns with Qatar's Vision 2030, targeting sectors like healthcare, logistics, smart cities, and tourism to position the nation as a global innovation hub. Entrepreneurs can apply through the Innolight platform for eligibility and funding details.
A Ventures has increased its stake in Mrkoon from 20% to 28% through a new bridge round, reinforcing its commitment to the digital marketplace for scrap and surplus materials. This investment aims to support Mrkoon’s regional expansion into the GCC, capitalizing on rising demand for digitized supply chain solutions. CEO Mohamed Shalabi emphasized that the partnership extends beyond funding, focusing on strategic insights and technology improvements to drive growth.
Ahmed Amir
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
qatar launches startup business development grant to boost innovation ecosystem
18:03 05.03.2025
Qatar launches grant to boost innovation and support early-stage startups
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17:57 05.03.2025
A Ventures increases stake in Mrkoon to support regional expansion efforts
10:29 04.03.2025
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